Property investors who have had real estate in Carnegie, 3163 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -16.66%
If we look at median property appreciation over just the last three months, Carnegie has given property investors a paper return of -7.00%. This puts Suburb as 673 on a list of fastest fasting appreciating suburbs in VIC
At number 932 in a list of fastest selling suburbs, Carnegie is in the TOP 30% of suburbs in Australia with an average of days on market 50.75 for properties listed there.
Using the current median advertised rental of $550 and the average annual increase in value of a median property of 6.74%, investors should hope to achieve an overall return of 2.28%
Property value increases in Carnegie have tracked lower than the VIC average of 2.97% over the last 12 months.
The five-year average increase in median property values for Carnegie,3163 has given property investors a potential capital gain of 12.41% across each of those five years.
Property buyers and investors in Carnegie 3163 should be seeing an average reduction in asking price of around -4.69% . This means that Carnegie is holding prices well when compared to other suburbs in VIC.
At number 431 in a list of fastest selling suburbs, Carnegie is in the TOP 40% of suburbs in Australia with an average of days on market 55.79 for properties listed there.
Situated 11.88km from the CBD, Carnegie is one of Glen Eira (C) localities in the postcode 3163.
Situated 12km from the Melbourne CBD, Carnegie is an established suburb where vacancy rates have tightened from 1.9% to 1.5% in the 12 months leading up to March 2018Full summary
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Vacancies are squeezed further
Median unit price: $599,000
Vacancy rate: 1.5%
Three-year growth: 12.0%
Situated 12km from the Melbourne CBD, Carnegie is an established suburb where vacancy rates have tightened from 1.9% to 1.5% in the 12 months leading up to March 2018.
The unit market in this area has been performing admirably since 2013, with an average annual growth rate of 6.2%. The median price comes in at just under $600,000, and the average rental rate comes in at $400 per week.
Initially christened as Rosstown, Carnegie is home to a bustling commercial scene. The shopping district is centred on Koornang Road and Dandenong Road. Koornang Park and the Carnegie Swim Centre are located here as well, along with Carnegie Primary School. Residents are served by the Cranbourne/Pakemham rail line, several bus routes and the Carnegie tram route.Close